Japanese yen is the funding currency in carry trade

15 March 2019, USD/JPY

Japanese yen is the funding currency in carry trade

USDJPY trading plan:

The trend in the US stock market will have a strong impact on the course of trading. The S&P index recorded 36 new 52-week highs and no new low. Bullish rally on the stock market will have a positive impact on USDJPY. The Japanese yen is the funding currency in carry trade operations. The growth of stock markets forces investors to sell the Japanese currency. Traders buy shares because they do not expect interest rates to rise in the United States. Negative statistics on retail and real estate will not allow FOMC to raise rates.

Trading recommendation: Buy 111.55 and take profit 112.22.

David Johnson
Analyst of «FreshForex» company
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